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Technology
Briefs

Updated April 2, 2001 12:57 a.m. ET

Teligent Doubts Its Ability to Remain Afloat

Teligent Inc.,
Vienna, Va., said in an annual report for 2000 filed Friday with the Securities and Exchange Commission that there is "substantial doubt about the company's ability to continue as a going concern." Teligent, which must raise additional funds to remain in operation beyond the current second quarter, said it could be delisted by the Nasdaq National Market by April 24 if it remains unable to meet Nasdaq listing standards for minimum share price or net tangible assets. It said it would request an extension and appeal any delisting. Teligent sells phone and data service in competition with the regional Bells. Like other so-called competitive local exchange providers, known as CLECs, Teligent has posted large losses and had difficulty raising needed capital from investors who have soured on CLECs. Teligent had $194 million in cash, cash equivalents and short-term investments as of March 26, according to the SEC filing. Chairman and Chief Executive Alex Mandl, a former president of
AT&T Corp.
, has said he hopes to have an additional funding package in place by later this month. On Friday, Teligent shares fell nine cents to 59 cents in 4 p.m. Nasdaq Stock Market trading.

Nanometrics Expects Revenue Shortfall

Nanometrics Inc.
predicted a decline in first-quarter revenue, reflecting a weakness in capital spending that has reduced orders to the company. The Milpitas, Calif., maker of measurement tools used by chip makers, expects to post revenue for the quarter 25% below its results for the fourth quarter of 2000. The company had said during a conference call in February that it expected a 10% decline in shipments. It now expects shipments to fall by 15%. Nanometrics also announced upward revisions of previously reported results to reflect new accounting rules. The company revised revenue for the fourth quarter of 2000 to $17.2 million from the $16.4 million reported Feb. 15. Net income for the quarter was changed to $3.3 million, or 28 cents a diluted share, from $2.7 million, or 22 cents a share. Net for 2000 was raised to $11.2 million, or 94 cents a share, from $10.1 million, or 86 cents. In 4 p.m. Nasdaq Stock Market trading Friday, Nanometrics rose $2.25, or 17%, to $15.75.

Williams Cos. Directors Approve Spinoff

Williams Co
s. said its board approved a tax-free spinoff of the company's communications business to shareholders. Williams, a Tulsa, Okla., energy concern, said it will distribute about 95% of the Williams Communications Group Inc. shares it holds in the form of a dividend. Currently, Williams owns 86% of the shares in the fiber-optics company. Shareholders will receive 0.82 share of Williams Communications for each Williams common share. The distribution is to occur April 23 to shareholders of record April 9. "Separating these two successful businesses should offer the market a greater ability to fully value them," said Keith E. Bailey, Williams chairman and chief executive. Williams also said Steven J. Malcolm, president and chief executive of Williams Energy Services, and Cuba Wadlington Jr., president and chief executive of Williams Gas Pipeline, were named executive vice presidents and will serve in the "office of the chairman" along with Mr. Bailey.

Detroit Schools Sign Pact With Software Developer

Compuware Corp.
in Farmington Hills, Mich., signed a five-year, $75 million agreement to provide information-technology services to Detroit Public Schools. The software developer said the contract provides for two extensions, each two years long. The contract is valued at $15 million a year. Compuware will work with the schools' management, employees and applications that run the district's Web site and information-technology operations. The company will begin work in the school system immediately, and expects to employ some of the school system's information-technology staff. In 4 p.m. Nasdaq Stock Market trading Friday, Compuware was down three cents to $9.75.

Hewlett-Packard Monitor Defect

Hewlett-Packard Co.
, Palo Alto, Calif., said a small number of its monitors run the risk of electrically shocking users who touch them. The computer maker said it is notifying all customers who purchased 17-inch monitors with a model number D8903A and providing them with a way to test if a unit is faulty. HP said the defect affected about 0.01% of the product line.

Cysive to Take Charge, Cut 30% of Staff

Cysive Inc.,
Reston, Va., will cut 90 to 95 jobs, or about 30% of its staff, and plans a related first quarter pretax charge of $1 million to $1.5 million. A Thomson Financial/First Call survey of analysts produced a mean earnings estimate for a loss of 22 cents a share for Cysive's first quarter. The company said it expects annual savings of $8 million to $10 million from the job cuts. Cysive called its business environment challenging and said "this unfortunate action is a direct result of that environment." Cysive designs and builds systems for electronic business.